The Other Side of Life 24/7: Daily Investor Briefing: Wall Street ends down a bit after...

Thursday, February 28, 2013

Daily Investor Briefing: Wall Street ends down a bit after...

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02/28/2013

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Wall Street ends down a bit after late-day selling

NEW YORK (Reuters) - Stocks ended down slightly on Thursday in a low-volume session, giving up modest gains late in the day.

Economy barely expands in fourth quarter, brighter days ahead

WASHINGTON (Reuters) - The economy barely grew in the fourth quarter as the military slashed spending and companies restocked their shelves with less gusto, but growth already appears to be picking up.

Analysis: U.S. deal has Brazil's Embraer flying high in defense

SAO PAULO (Reuters) - With its first-ever U.S. military contract in hand, the defense unit of Brazilian planemaker Embraer SA has finally hit the big time, establishing itself as a global player while the rest of the industry struggles with shrinking budgets.

Groupon replaces CEO Andrew Mason, looks for new chief

SAN FRANCISCO (Reuters) - Groupon Inc replaced CEO Andrew Mason at the helm on Thursday, a day after posting a dismal set of quarterly results, and appointed co-founder Eric Lefkofsky and board member Ted Leonsis as interim chief executives.

Blame game gets louder as budget cuts look inevitable

WASHINGTON (Reuters) - A day before sweeping budget cuts begin, the White House and Republicans blamed each other on Thursday for failure to prevent a fiscal crisis which the International Monetary Fund warned could slow the U.S. and world economies.

Walmart says price cuts helped shoppers save billions on produce

(Reuters) - Walmart shoppers have saved $2.3 billion by buying produce at its stores in the first two years of its push to sell more healthful fare and more of it, the largest U.S. grocer said on Thursday.

Hedge fund in "Whale" trade tried to poach JPM employees: sources

NEW YORK (Reuters) - BlueMountain Capital, a hedge fund involved in JPMorgan Chase & Co.'s $6.2 billion trading loss last year, tried to recruit several employees in the bank's chief investment office in the months before the losses, according to two people familiar with the matter.

JPMorgan says London Whale didn't cause Lehman bankruptcy

NEW YORK (Reuters) - The former JPMorgan Chase & Co trader known as the "London Whale" was not responsible for Lehman Brothers Holdings Inc's bankruptcy and should not be dragged into an $8.6 billion lawsuit accusing the largest U.S. bank of causing it, JPMorgan said.

Peregrine boss Wasendorf starts serving 50-year jail term

(Reuters) - Russell Wasendorf Sr., the former chief executive of Peregrine Financial Group, has begun serving a 50-year sentence at a federal prison in Indiana for bilking $215 million from customers of the failed futures brokerage.

US Airways flight attendants ratify contract

(Reuters) - Flight attendants at US Airways Group Inc approved a contract with the carrier which provides pay raises and job protections by a margin of 80 percent, their union said on Thursday.